Cadeler acquires German offshore export Menck
The Danish offshore and heavy-lift shipping company Cadeler stays on its investment track. Following its latest order for newbuilds, now an entire company is planned to be acquired.
Danish offshore wind installation specialist Cadeler has announced plans to acquire Menck, a leading provider of equipment and technology solutions for offshore foundation installation. The move marks another major investment by the company as it continues to expand its position in the global offshore wind sector.
Cadeler, which operates one of the world’s largest fleets of jack-up vessels for offshore wind turbine installation, has invested heavily in recent years, including several vessel acquisitions and newbuild orders. The intended acquisition of Menck represents a strategic step beyond fleet growth, allowing the company to broaden its capabilities across the offshore wind value chain.
The transaction is based on an agreed enterprise value of €501 million. Subject to regulatory approvals, the acquisition will be funded through a combination of existing liquidity and €380 million in acquisition financing provided by DNB Bank and Rabobank. Cadeler expects to repay the financing through long-term funding arrangements and future operating cash flows.
Headquartered in Kaltenkirchen, Germany, Menck will continue to operate independently following the acquisition. The company serves customers throughout the offshore wind industry and maintains operations in Hamburg, Singapore, Cornwall, and Cork. Its portfolio includes hydraulic impact hammers and specialist expertise in noise reduction, drilling, grouting, and foundation engineering.
According to Cadeler, the acquisition supports its ambition to become the preferred partner for offshore wind projects by offering a more integrated range of services. Combining Menck’s engineering expertise with Cadeler’s offshore installation capabilities is expected to enhance project execution as offshore wind developments continue to increase in size and complexity.
Cadeler CEO Mikkel Gleerup highlighted Menck’s long-standing reputation and critical role in foundation installation, noting that the combined strengths of the two companies are highly complementary. Meanwhile, Menck Executive Vice President Jochem Scherpenisse described the transaction as an important growth opportunity, adding that the company plans to introduce new technology in 2027 aimed at supporting the installation of increasingly large offshore wind foundations.
The acquisition reflects continued consolidation within the offshore wind supply chain as industry participants seek greater scale, technical expertise, and integrated service offerings to support the next generation of offshore renewable energy projects.
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